Description

Comprehensive FAQ document covering SEBI registered Investment Advisers regulations including registration procedures, fee structures, and compliance requirements.

Summary

This FAQ document provides comprehensive guidance on SEBI (Investment Advisers) Regulations, 2013, covering registration procedures, fee structures, deposit requirements, and compliance obligations for Investment Advisers. The document clarifies various aspects of IA registration through BSE Limited as the Investment Adviser Administration and Supervisory Body (IAASB).

Key Points

  • Applications for IA registration must be submitted to IAASB at https://membershipraia.bseindia.com/
  • SEBI has granted recognition to BSE Limited as IAASB for five years beginning July 25, 2024
  • Registration certificates remain valid until suspended or cancelled by SEBI, subject to periodic fee payments
  • Principal Officers, PAIAs and Partners don’t need separate registration certificates but must meet qualification requirements
  • Deposit requirements vary based on client numbers ranging from ₹1 lakh to ₹10 lakhs

Regulatory Changes

  • BSE Limited recognized as IAASB for five-year period starting July 25, 2024
  • Deposit requirements subject to periodic review by SEBI
  • Application process streamlined through online portal

Compliance Requirements

  • Registration Fees:
    • Individuals/Firms: ₹2,000 application + ₹3,000 registration + ₹1,000 renewal
    • Body Corporate/LLPs: ₹10,000 application + ₹15,000 registration + ₹5,000 renewal
  • Deposit Requirements based on client base:
    • Up to 150 clients: ₹1 lakh
    • 151-300 clients: ₹2 lakh
    • 301-1,000 clients: ₹5 lakh
    • 1,001+ clients: ₹10 lakh
  • Principal Officers, PAIAs and Partners must meet qualification and certification requirements
  • Administrative fees payable to IAASB as specified

Important Dates

  • April 21, 2013: SEBI (Investment Advisers) Regulations came into effect
  • July 25, 2024: BSE Limited recognition as IAASB commenced
  • April 30: Annual deadline for deposit amount revision based on previous year’s maximum client count

Impact Assessment

This guidance document provides clarity for existing and prospective Investment Advisers on regulatory compliance requirements. The structured fee framework and deposit requirements based on client base ensure proportionate regulatory burden. The centralized application process through IAASB streamlines registration procedures while maintaining regulatory oversight.

Impact Justification

Guidance document for Investment Advisers with regulatory compliance information